Porsche plans dedicating half of its production to electric vehicles by 2023.

Luxury automakers the world over have accelerated toward more hybrid and electric vehicle offerings, but there has been one noticeably absent player in the green car game, that is until now.

Porsche CEO Oliver Blume told Manager Magazin, a German publication, last week that the company plans to dedicate half its annual production exclusively to EVs by 2023, with its first all-electric vehicle debuting in 2019.

After discontinuing plans last month to build a hybrid version of the 911 coupe, the German automaker plans on taking its Mission E to production four years after its world premiere as a concept car at the 2015 Frankfort Motor Show. Porsche’s Mission E will be able to go an impressive 310 miles on a full charge. With a 90-kWh battery, powering it from 0 to 60 mph in 3.5 seconds, the Mission E would stand in direct competition with the performance-oriented Tesla Model S.

Porsche announced that it would make a production version of the Mission E concept that it rolled out during September's Frankfurt Motor Show.

(Porsche)

Those mileage figures should be taken with a grain of salt however, as the New European Driving Cycle (or NEDC) standards tend to be more generous than those of the EPA, and don’t reflect real-world driving range. A more realistic estimate, according to Electrek, places the automaker’s first ever all-electric vehicle closer to the 250-mile range.

Porsche also claims that the Mission E will get an 800-volt charging system, which should charge it up to 80 percent capacity in approximately 15 minutes, a charge time that handily eclipses Tesla’s Superchargers.

The automaker’s electrified plans also include an all-electric version of its top-selling Macan SUV following the Mission E, though it released no details on when that vehicle will debut. Over the next six years, Porsche plans to ramp up annual EV production to as many as 60,000 at its Zuffenhausen factory in Germany, an unprecedented feat for any automaker that would equate to a quarter of its total production of 238,000 vehicles per year. This means the automaker could have plans to electrify other models in the future, and possibly incorporate hybrid cars into its projections, according to Autoblog.

Porsche’s plans for substantial electrification stem from its parent company Volkswagen AG’s requirements to introduce more electric offerings in its lineup as a stipulation for settling the infamous Dieselgate scandal that has cost the automaker $20 billion in the United States alone. The German automaker agreed to include more environmentally friendly vehicles to atone for installing illegally emissions-masking software into the TDI engines of 11 million Volkswagen, Audi, and Porsche vehicles worldwide.